Merck KGaA: 'very strong' quarter, guidance raised
(CercleFinance.com) - Merck KGaA said on Wednesday that it has raised its earnings and revenue forecasts for FY 2021, after reporting a "very strong" first quarter.
The German pharmaceutical company this morning announced a stronger-than-expected quarterly Ebitda of 1.51 billion euros, 14% above the consensus.
Sales over the first three months of the year came in at 4.63 billion euros, again slightly above the 4.61 billion euros expected by analysts.
The Darmstadt-based group is now forecasting annual sales of 18.5 to 19.5 billion euros, expecting Ebitda of 5.4 to 5.8 billion euros.
The share first rose by up 4% in early trading on the Frankfurt stock exchange, before falling back slightly, up 2.5% at 11.45am, still outperforming a bullish German market (+1.4%).
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